Tag Archive | "securities"

Westell Up 4%: FYQ4 Revenue Up 31%

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Shares of communications equipment maker Westell Technologies (WSTL) are up 15 cents, or 4%, at $3.75, after the company reported fiscal Q4 revenue rose 31%, year over year, to $49.6 million, and EPS rose a penny to 5 cents per share.

Northland Securities analyst Mike Latimore is the only analyst listed by Thomson Financial as covering the stock. He had been modeling $49.6 million and 4 cents per share.

Gross profit declined from the year-earlier 37.4% to 31%, the company said. Westell ended the quarter with $86.4 million in cash after generating half a million of cash during the quarter.

Westell, which is selling its customer networking business to Netgear (NTGR), said that the division saw a 65% jump in revenue in the quarter. The unit saw an improvement from a $1 million net loss a year earlier to just $700,000 in net loss last quarter.

Article courtesy of Tech Trader Daily

AAPL: Ticonderoga Says FYQ3 Sales Growth Still Possible

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Ticonderoga Securities analyst Brian White this morning reiterates a Buy rating on Apple (AAPL) shares and a $612 price target, while writing that the company’s sales in April look to have been below the historical trend, but that quarter-on-quarter growth is still possible.

That’s not entirely surprising, he indicates, as Apple forecast the quarter to be down 7%, versus a normal historical trend for sales to be up 5%, quarter to quarter, in fiscal Q3.

The “barometer” he’s compiled of companies that supply Apple out of Taiwan shows Apple sales may have fallen by 7.5%, below an historical average for sales to rise 0.4% from March to April. But given the 35% increase in sales in March for his barometer, versus a 24% average, it’s still possible that the full quarter could rise by the historical 5%, he thinks.

Apple shares today are down 58 cents at $348.87.

Article courtesy of Tech Trader Daily

CFTC To Take A Look-See At Goldman Sachs’ Clearing And Execution Division

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Goldman said that it’s been notified of the probe via “oral advisement,” or the action known as “words exiting a human’s mouth,” to the layman.

In its quarterly filing with the Securities and Exchange Commission Tuesday, Goldman said that the agency’s staff has orally advised it that it intends to recommend the agency bring “aiding and abetting, civil fraud and supervision-related charges” against Goldman Sachs Execution & Clearing.

The CFTC, the filing said, is basing these charges on allegations Goldman knew, or should have known, that its broker-dealer client’s subaccounts at Goldman were accounts belonging to customers of the broker-dealer and not the broker-dealer’s own accounts.

[WSJ]



Article courtesy of Dealbreaker

LinkedIn claims $3B valuation in IPO pricing

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linkedin reid hoffmanBusiness social networking site LinkedIn has priced its initial public offering between $32 and $35 per share, meaning the company seeks to raise up to $175 million and would be valued at $3 billion, according to an updated filing with the Securities and Exchange Commission.

LinkedIn’s valuation is the first official record of the hyper-valuations many Web 2.0 companies like Twitter and Facebook have seen in recent years. The company plans to offer up to 4.83 million new shares of common stock, which would raise up to $175 million if they sell at the top end of the expected pricing. Current shareholders also plan on selling around 3 million shares of the business social networking company.

LinkedIn, founded by Reid Hoffman (pictured above), is a business network that’s designed to help professionals connect with other potential business contacts and get a “warm introduction” through people in their network.

The company has warned that a majority of its revenue comes from a small number of members who generate a majority of the page views for the site. Its major investors — Sequoia Capital, Bessemer Ventures and Greylock Partners — will not participate in the initial public offering, according to Reuters. Those investors own around 40 percent of the company, according to the company’s S-1 filing with the SEC.

LinkedIn will list its shares under the ticker “LNKD” on the New York Stock Exchange (NYSE) after spurning the tech-heavy NASDAQ stock market. It’s one of several high-profile tech initial public offerings that landed on the NYSE over the NASDAQ, ending the exchange’s decade-long dominance over the tech IPO market. The NYSE has dueled with the NASDAQ stock market to attract high-profile tech IPOs, but it’s traditionally been a losing battle as the NASDAQ stock market regularly plays host to the largest tech companies in the world like Google and Apple.

LinkedIn filed to go public in January this year to raise up to $175 million. The latest filing with the SEC also indicates that LinkedIn now has 100 million members, up from the 90 million it indicated in its last S-1 filing. It had 990 employees at the end of 2010, the last time it reported how many employees it had.

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Article courtesy of VentureBeat » deals

UBS Is Worried About Goldman Sachs’ Reputation

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The Masters of the Universe are a bit too busy to respond so we were asked to pass on the following: “Consider the source.”

“Any turnover will concern investors despite the firm’s deep bench,” Tanona, who worked at Goldman Sachs from 2005 to 2008, wrote today in a note to investors. “GS’s management team is very strong; however, missteps on the public relations front have further tarnished the firm’s reputation.” Managers will remain under strain after lawmakers sent findings to the Justice Department and Securities and Exchange Commission, he said.

Goldman Sachs May Make ‘Near-Term’ Management Changes, UBS Says [Bloomberg]



Article courtesy of Dealbreaker

LinkedIn spurns NASDAQ, lists with NYSE

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Could this be the end of an era?

LinkedIn, one of the highest-profile tech initial public offerings this year, indicated today that it will list its shares on the New York Stock Exchange (NYSE) rather than the NASDAQ stock exchange, according to an updated version of its S-1 filing with the Securities and Exchange Commission.

The NYSE has dueled with the NASDAQ stock market to attract high-profile tech IPOs, but it’s traditionally been a losing battle as the NASDAQ stock market regularly plays host to the largest tech companies in the world like Google and Apple. But recent high-profile tech IPOs indicate that is changing. The NYSE nabbed Chinese social networking site Renren last month. Pandora, an online radio station and another high-profile tech IPO this year, also said it would list its shares on the NYSE.

LinkedIn’s announcement also comes at a time when NYSE Euronext, the company that runs the New York Stock Exchange, is in a high-profile fight with NASDAQ OMX, the company that runs the NASDAQ stock market. NYSE Euronext is fighting off a takeover bid by its tech-heavy rival stock market. NASDAQ OMX said it is committed to making a deal worth $11.1 billion for NYSE Euronext.

The business-savvy social network will list its shares under the ticker “LNKD.” The company filed to go public in January this year to raise up to $175 million. The latest filing with the SEC also indicates that LinkedIn now has 100 million members, up from the 90 million it indicated in its last S-1 filing.

The updated filing also included some new information about its financial performance. The company brought in $94 million in the first quarter this year, up 110 percent from $45 million in the first quarter last year. It earned $2.1 million off that revenue in the first quarter this year, up 15 percent from $1.8 million in the first quarter last year.

LinkedIn is a business network that’s designed to help professionals connect with other potential business contacts and get a “warm introduction” through people in their network. The company said it had 990 employees at the end of 2010.

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Article courtesy of VentureBeat » deals

Web video delivery startup Envivio plans to raise $69M in IPO

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Envivio has filed to go public and raise as much as $69 million in a filing with the Securities and Exchange Commission.

The South San Francisco company specializes in video compression and internet protocol video networking technology. Its “TV without boundaries” technology enables service providers and content providers to offer high-quality video on the web. The company isn’t making money, so it seems like it’s trying to cash in on the frothy investment environment in Silicon Valley to raise some.

Among the parade filing for IPOs recently are Zillow, the real estate web site firm, and ZipCar, which went public last week.

Envivio’s rivals include Harmonic, RGB Networks and Cisco. The company has more than 220 customers in 50 countries. The company said that it generated revenue of $30 million, up from $16.3 million a year earlier. It reported a loss of $2.3 million, down from $9.2 million a year earlier. As of Jan. 31, 2011, the company had accumulated losses of $79 million.

Envivio said it plans to use the proceeds from the offering for working capital and general corporate purposes, including hiring more people. The company has raised more than $30 million from investors including PE firm HarbourVest and Crescendo Ventures. It has about $10 million in cash. The company was founded in 2000.

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Article courtesy of VentureBeat » deals

SEC may let startups use social networks to raise money

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The Securities and Exchange Commission may adopt rules to let internet-age technologies be used in fund-raising.

The agency is considering whether to let fast-growing companies use social networks such as Facebook and Twitter to raise funding by tapping thousands of investors for small amounts of money, the Wall Street Journal reported.

The move is part of a larger review by the Securities and Exchange Commission into whether to ease decades-old constraints on how companies can issue new shares to the public. The new funding techniques, known as “crowd funding,” could usher in a new era of capital abundance for Silicon Valley’s startups.

The technique has spread from artists looking to fund their creative works to entrepreneurs trying to bootstrap companies without giving up control to venture capitalists. Typically, a company might raise $100,000 from an internet site where users could sign up to buy $100 worth of shares.

Crowd funding could be a cheap source of cash, competing with angel investors who specialize in giving seed rounds to start-ups. Since the amounts of money are small, the downside risk isn’t too bad for investors. But the trick will be in protecting the public from scammers who have no intention of following through on promises.

Crowd funding could also be appealing to larger companies that are popular with consumers. Those companies wouldn’t have to go through all of the onerous legal disclosures required under securities laws. Mary Schapiro, chairman of the SEC, said in a letter to a law maker on Wednesday that the agency has been discussing crowd funding with small businesses and state regulators. A petition allowing crowd funding up to $100,000 has been backed by 150 organizations and individuals.

In 1992, the SEC allowed small companies to issue shares valued as much as $1 million to ordinary investors without full disclosure of financial information and other legal limits. That effort was abandoned in 1999 because of fraud concerns.

[image credit: Small Business Trends]

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Article courtesy of VentureBeat » deals

SEC may let startups use social networks to raise money

Tags: , , , , , , , , , , , , , ,


The Securities and Exchange Commission may adopt rules to let internet-age technologies be used in fund-raising.

The agency is considering whether to let fast-growing companies use social networks such as Facebook and Twitter to raise funding by tapping thousands of investors for small amounts of money, the Wall Street Journal reported.

The move is part of a larger review by the Securities and Exchange Commission into whether to ease decades-old constraints on how companies can issue new shares to the public. The new funding techniques, known as “crowd funding,” could usher in a new era of capital abundance for Silicon Valley’s startups.

The technique has spread from artists looking to fund their creative works to entrepreneurs trying to bootstrap companies without giving up control to venture capitalists. Typically, a company might raise $100,000 from an internet site where users could sign up to buy $100 worth of shares.

Crowd funding could be a cheap source of cash, competing with angel investors who specialize in giving seed rounds to start-ups. Since the amounts of money are small, the downside risk isn’t too bad for investors. But the trick will be in protecting the public from scammers who have no intention of following through on promises.

Crowd funding could also be appealing to larger companies that are popular with consumers. Those companies wouldn’t have to go through all of the onerous legal disclosures required under securities laws. Mary Schapiro, chairman of the SEC, said in a letter to a law maker on Wednesday that the agency has been discussing crowd funding with small businesses and state regulators. A petition allowing crowd funding up to $100,000 has been backed by 150 organizations and individuals.

In 1992, the SEC allowed small companies to issue shares valued as much as $1 million to ordinary investors without full disclosure of financial information and other legal limits. That effort was abandoned in 1999 because of fraud concerns.

[image credit: Small Business Trends]

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Article courtesy of VentureBeat » deals

SEC may let startups use social networks to raise money

Tags: , , , , , , , , , , , , , ,


The Securities and Exchange Commission may adopt rules to let internet-age technologies be used in fund-raising.

The agency is considering whether to let fast-growing companies use social networks such as Facebook and Twitter to raise funding by tapping thousands of investors for small amounts of money, the Wall Street Journal reported.

The move is part of a larger review by the Securities and Exchange Commission into whether to ease decades-old constraints on how companies can issue new shares to the public. The new funding techniques, known as “crowd funding,” could usher in a new era of capital abundance for Silicon Valley’s startups.

The technique has spread from artists looking to fund their creative works to entrepreneurs trying to bootstrap companies without giving up control to venture capitalists. Typically, a company might raise $100,000 from an internet site where users could sign up to buy $100 worth of shares.

Crowd funding could be a cheap source of cash, competing with angel investors who specialize in giving seed rounds to start-ups. Since the amounts of money are small, the downside risk isn’t too bad for investors. But the trick will be in protecting the public from scammers who have no intention of following through on promises.

Crowd funding could also be appealing to larger companies that are popular with consumers. Those companies wouldn’t have to go through all of the onerous legal disclosures required under securities laws. Mary Schapiro, chairman of the SEC, said in a letter to a law maker on Wednesday that the agency has been discussing crowd funding with small businesses and state regulators. A petition allowing crowd funding up to $100,000 has been backed by 150 organizations and individuals.

In 1992, the SEC allowed small companies to issue shares valued as much as $1 million to ordinary investors without full disclosure of financial information and other legal limits. That effort was abandoned in 1999 because of fraud concerns.

[image credit: Small Business Trends]

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Article courtesy of VentureBeat » deals